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After reading the other replies, I just took a closer look - maybe my glasses are clean now. I don't see any chunks of particles; there is finer powdery substance. It certainly looks more like salt. I agree with tbone1004 and Wookie-you need to have your gear serviced. Maybe there is hose degradation, but it sure looks like contamination.that is not a break down of the hose lining. That looks like salt residue from salt water intrusion to the first stage. Usually from careless rinsing practices or not blowing the tank valve off before putting the first stage on. Looks like it's time for new hoses and a full service of your gear....